Megamerger of Viacom, CBS
Is Likely to Win FCC Approval

By

John R. Wilke Staff Reporter of The Wall Street Journal

Updated Sept. 8, 1999 1:55 a.m. ET

WASHINGTON -- Viacom Inc.'s buyout of CBS Corp. will be approved by federal regulators only if the companies agree to sell a handful of television stations and Viacom's interest in the fledgling UPN network, government officials said.

The officials, who asked not to be identified, said the deal could raise antitrust problems in cities where the companies have overlapping station ownership and violate a federal rule limiting networks from owning stations reaching more than 35% of the nation's 100 million households. But...